Friday, September 15, 2006

I Got Gas...

Yeah, I know, this is getting to be one of my regular features. So anyhoo... I got gas for $2.71 at one of my favorite (cheapest) stations, Safeway. According to an article in the Seattle Times some analysts believe that we may, may be in for an historic plunge in gas prices, leading back to 1990 prices:

The recent sharp drop in the global price of crude oil could mark the start of a massive sell-off that returns gasoline prices to lows not seen since the late 1990s — perhaps as low as $1.15 a gallon.
There's a certain someone I have (had) a bet with, where I suggested gas prices would eventually go back below $2 a gallon. I have since semi-officially conceded that bet for a couple of reasons.

1. Emotion: When prices kept rising, and rising, and rising, I began to think that maybe, they just might not go back down.

2. Reason: The state of Washington has enacted about a .9 cent a gallon gas-tax increase, and as such, if prices didn't go enough below $2, market be damned, the price at the pump would remain above $2.

While I still concede the bet (and once conceded, I can't unconcede, can I?), when watching the recent and rapid dip in prices, I'm heartened that we might get a significant price drop, bet be damned.

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